FastJet Fills Flights as Initial African Operations Avoid Delays

FastJet Plc (FJET), a low-cost African
airline, said it carried 29,547 passengers in its first full
month of operations and avoided flight disruptions related to
infrastructure.

The airline, which began flying on Nov. 27, filled 78.9
percent of seats in December, the London-based carrier said in a
statement today. The company’s wider business, including legacy
Fly540 airline operations it acquired, rose 54.4 percent to
697,267 passengers last year.

FastJet, which operates Airbus SAS A319s, is trying to
expand its network to dominate intra-African low-cost travel and
last month obtained an option to acquire 1time Airline in South
Africa to win traffic rights in one of the region’s largest
markets. The carrier has already initiated talks with Emirates,
the world’s largest carrier by international traffic, about a
partnership to gain market share.

The carrier also said it raised 1.07 million pounds ($1.7
million) by issuing 26.7 million shares to a Henderson Global
Investors Volantis Fund unit. “Funds will be used for general
working capital and expansion of the FastJet network in
Africa,” it said.